PETROLEUM- Production

WHERE IS OIL PRODUCED?Crude oil is produced in 31 U.S. states and in U.S. coastal waters. In 2015, about 65% of U.S. crude oil production came from five states:-Texas (37%), North Dakota (12%), California (6%), Alaska (5%) and Oklahoma (5%)

In 2015, about 16% of U.S. crude oil was produced from wells located offshore in the federally administered waters of the Gulf of Mexico.

Although total U.S. crude oil production generally declined between 1985 and 2008, annual production increased from 2009 to 2015. More cost-effective drilling technology helped to boost production, especially in Texas, North Dakota, Oklahoma, New Mexico, and Colorado.eia.doe.gov

The United States Produces Most Of The Petroleum It Uses

The United States Produces A Large Share Of The Petroleum It Consumes, But It Still Relies On Imports To Help Meet Demand

In 2016, the United States produced1 about 14.6 million barrels per day (MMb/d) of petroleum, and it consumed2 about 19.6 MMb/d of petroleum. Imports help to supply the demand for petroleum. …learn more about this incredible turnaround

Share Of Imports From OPEC Has Declined, While Share Of Imports From Canada Has Increased

U.S. petroleum imports rose sharply in the 1970s, especially from nations that comprise the Organization of the Petroleum Exporting Countries (OPEC). In 1977, OPEC nations were the source of 70% of total U.S. petroleum imports, when the United States exported relatively little petroleum. Since then, …Learn more>>

EIA Projects Rise In U.S. Crude Oil And Other Liquid Fuels Production Beyond 2017

The U.S. Energy Information Administration projects that U.S. petroleum and other liquid fuels production, which in addition to crude oil and condensate production includes natural gas plant liquids derived from natural gas processing as well as biofuels and volume gain at refineries, is projected to grow from… Learn more>>eia.gov

The oil price cases illustrate the effect of higher or lower global crude oil prices on U.S. production and use of petroleum. By 2030, the Brent crude oil spot price averages $49/b in the Low Oil Price case, $104/b in the Reference case, and $207/b in the High Oil Price case. In the High Oil Price case, increased energy efficiency, conservation, and fuel switching reduce projected consumption. The converse is true in the Low Oil Price case, where demand increases in response to low prices. In the High Oil Price case, the United States becomes a net exporter of petroleum and other liquid fuels by 2022…. Learn more>> eia.gov

The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil and natural gas wells to provide estimated changes in oil and natural gas production for seven key regions. EIA’s approach…Learn more>>

The area above the Arctic Circle is underlain by sedimentary basins and continental shelves that hold enormous oil and natural gas resources. Most of this area is poorly explored for oil and natural gas, however, the United States Geological Survey estimates that the Arctic contains approximately 13 percent of the world’s undiscovered conventional oil resources and about 30 percent of its undiscovered conventional natural gas resources.

What Is A BarrelRefineries in the United States produce about 19 gallons of gasoline from every 42-gallon barrel of crude oil that is refined. Refineries and companies that produce the finished motor gasoline sold in retail gasoline fueling stations may add various liquids so that the gasoline burns cleaner and meets air pollution control standards and requirements. Most of the motor gasoline now sold in the United States also contains…Learn more>>eia.doe.gov

How Do Recent Gasoline Prices Compare With Historical Prices?There are two ways to compare recent gasoline prices with historical prices. One way to compare prices is to examine the price actually paid at the pump, or the nominal price. The other is to compare the real price, which is the price adjusted for inflation. This shows past prices in today’s dollar value. …Learn more>>